Testamentary substitute trusts/ Successive life interest trusts

The accumulation of assets by the elderly and an increase in the number of nuclear families led to a heightened interest in family trusts as an effective means of facilitating asset succession.
For example, family trusts called "testamentary substitute trusts" appoint the settlor as the beneficiary as long as he is alive, and his child or spouse following his death, and "successive life interest trust" that appoint the settler as the beneficiary as long as he is alive, and his spouse following his death. The child becomes the beneficiary following the death of the spouse.

Successive life interest trusts

Perpetual succession of beneficiaries

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